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The Plymouth and Northville Real Estate markets have done better than most over the past several years. And now with the local Automotive industry recording robust profits and paying out bonuses, combined with a more diversified local economic base, the residential Real Estate market has further strengthened in value.
Newly listed properties are often selling quickly while some properties are even receiving multiple offers. As usual, the homes with best locations, amenities, and updates will not only appeal to the most people, but also sell for the highest prices in the least amount of time.
Why is the recovery in Real Estate prices happening? Low inventory and more buyers seems to be the answer or simply less supply and more demand. There just aren’t enough properties on the market to satisfy buyers who feel more financially secure or are moving to the area. Here’s how Plymouth and Northville active real estate listings in February compare to the same time last year.
There are clearly fewer homes available and we don’t see the trend changing appreciably in the near future. The mild Winter kept buying traffic strong through the winter months and now with the Spring selling season kicking off, inventory is likely to remain limited.
So have Real Estate values really increased? Many of you have seen your 2012 Tax assessment increase for the second year in a row. This is a direct result of rising home prices. Keep in mind that these Tax assessments are a ‘lagging indicator’ of your home’s value as the assessment period ended approximately 5 months prior to when you received your new assessment. Here’s the year over year change (increase) in Real Estate prices for the month of February:
What does this mean for Plymouth and Northville Real Estate buyers and sellers?
For Buyers: We recommend finding a local buyer’s agent who can identify new homes just listed or soon to be listed. You should also get a pre-approval letter from a lender. And then you should educated yourself about the local market by seeing houses as they come on the market. You may need to act quickly so the more you know now, the faster you’ll be able to make a decision when the right house does come along.
For Sellers: If you’ve delayed putting your home on the market, this may be the time to sell. While other areas of Southeast Michigan may not be as strong as ours and prices were lower a couple of years ago, things have definitely changed. It’s a good time to sell right now in Plymouth and Northville. Of course, you’ll want the advice and assistance of an experienced local REALTOR since selling a home in today’s market can be a complicated and time-consuming process.
If you are planning to buy or sell a home in the Plymouth or Northville area and would like a private consultation, please feel free to contact us to discuss your needs in confidence. We are specialists in the local area with the experience and knowledge to assist you throughout your home buying and selling process. You can reach me at 734-788-2398 or carrie@bobbake.com.
Just sold to one of our clients, this classic and newly expanded 1917 home offers both the curb appeal and the interior charm that defines Plymouth living. With 2300 sqft, 4 Bedrooms and 2.5 Bathrooms along with a 2.5 Car Garage, this home has all the amenities of modern living combined with the character and style of an older home.
To see more homes like it, please visit our Plymouth and Northville Real Estate homepage at 
Just sold to one of our clients – this delightful 1100 sqft Ranch home offers 3 Bedrooms and 2 Full Bathrooms. The home is located within the City of Plymouth so you can enjoy walking to the City Center’s many shops, restaurants, attractions, and events.
Just sold to one of our clients – this spacious 1790 sqft Tri-Level offers 3 Bedrooms and 1.5 Bathrooms. The home is located deep within Plymouth’s highly desirable Lake Pointe Village subdivision on a quiet street backing to Hines Park. Features include a walk out finished basement leading to a private rear yard with terraced gardens and stone patios – providing a truly idyllic retreat.
To see more homes like it, please visit our Plymouth and Northville Real Estate homepage at 
Just sold, this generously expanded & updated Cape Cod with magnificent front porch set amongst mature shade trees & steps to downtown shops, dining, entertainment, and events. 1st floor Master Bedroom Suite, Great Room with Cathedral Ceiling & Fireplace, Addition & 2.5 car gar (1999-2000), hardwood flooring, trim, granite kitchen, upstairs Family Rm w/ wet bar, Library, 1st fl. Laundry, 4 bedrooms plus bonus room, fenced yard, Premium location with all the amenities!
Just SOLD to on our clients - this exceptional home on a low traffic court in Plymouth’ highly desirable Ridgewood Hills community offers classic Colonial living. With 2500 sqft, 4 bedrooms upstairs, and 2.5 bathrooms, this home has the functionality and curb appeal demanded by buyers today.
Just SOLD, this exceptional Cape on 1/2 acre deep within Woodcreek on a cul-de-sac backing to acres of woods. Fasitdiously maintained & continuously updated by present original owners, including a finished lower level with full bath, 2 egress windows, roof ’03, new electrical box, Master Bath ’04, Granite/Maple Kitchen ’10, koi pond with 2 waterfalls, paver patio, deck, sump pump with back-up, beautiful hardwood flooring, fireplaces in library and Great Room. This home represents a truly remarkable combination of location, setting, and amenties!
Just Sold – this gorgeous Woods of Edenderry masterpiece home offers extensive & recent premium enhancements throughout. With a bucolic setting backing to a 15 acre protected woodlands, this 4392 sqft Colonial was built with mellow hardwood flooring, front & rear staircase, 3 fireplaces, over-the-top sized ‘island’ kitchen, large library with cherry museum quality built-ins, 4 full, 2 half baths, walk out finished lower level with bedroom and full bathroom. Fastidiously maintained – every desired amenity is present.
